Stephen Elop has been appointed as the chief executive officer of Nokia by its board of directors. Elop who currently heads Microsoft's business division will join Nokia team on September 21.
Nokia was looking at how Microsoft's Surface tablet went in the market before launching its own.
Buying Nokia's gadget business thrusts Microsoft deeper into the hotly contested market
In August, Steve Ballmer said he would retire within 12 months.
Rajeev Suri will become the new chief executive of Finnish telecommunications gear maker Nokia, the company said on Tuesday, confirming what analysts had expected.
Rajeev Suri, the head of Nokia's telecoms network equipment division, is likely to become the Finnish group's next chief executive following the sale of its handset business to Microsoft.
In the first qarter results, Lumia sales showed incremental gains.
Lumia range is make-or-break for both Nokia and Microsoft where each is desperate for a successful device that can take Windows operating system to the masses.
The phone is lighter than Lumia 920 and will hit the market in June.
Mobile phone-maker Nokia on Tuesday announced the beginning of a new era.
Finland's Nokia, once the undisputed leader in mobile phones, has been struggling to respond to the challenge from smartphone makers such as Apple and Samsung.
Stephen Elop, the former Nokia CEO who now runs Microsoft's devices business, showed off the phone in front of thousands at the company's annual employee meeting in Seattle on Monday.
The inititiave will see the partners collaborate on developing lower-cost, higher-quality smartphones and deploying Internet access in underserved communities.
Fair trade watchdog CCI has approved Microsoft's proposed $7.2 billion acquisition of Nokia's mobile devices business, citing that the deal would not have adverse impact on competition in the Indian market.
Nokia agreed in September to sell its devices and services business and license its patents to Microsoft for 5.44 billion euros after failing to recover from a late start in smartphones.
Lumia 640 XL will begin rolling out globally in March.
Loss-making Nokia gains full control of the profitable venture Nokia Siemens Networks for $2.2 billion, a cheaper than-expected price, analysts said, although they also noted the acquisition would put pressure on Nokia's balance sheet.
Months before Fairfax Financial Holdings Inc bid $4.7 billion for BlackBerry Ltd, Fairfax boss Prem Watsa played a role in securing a golden parachute worth as much as $55 million for the smartphone maker's chief executive.
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